Leeds United owner begins exit after selling half of the club

LEEDS UNITED owner Massimo Cellino has sold 50% of the club to Italian businessman Andrea Radrizzani.

Mr Radrizzani has bought the stake for an undisclosed sum through an investment vehicle Greenfield Investment, and will work alongside Mr Cellino in running the Elland Road Club.

However it is expected that the investment signals the beginning of Mr Cellino’s exit, which has previously been threatened and announced by the owner and called for by fans’ groups for much of the last two years.

He has owned the Championship club since 2014, but his tenure has been fraught with issues including being banned by the FA, fans’ protests, numerous managerial changes, and underwhelming on-the-field performances.

“I have worked hard for the past three years for Leeds United, we are a massive club, and I feel the only way we can get better is for me to bring in a new partner,” said Mr Cellino.

“Andrea is young and brings a new energy with him, as well as having a good experience in the football media business, which is the future for all clubs.”

TV rights mogul Mr Radrizzani is the chairman of Aser Group and co-founder of international sports media rights company MP & Silva.

“I am excited by the challenge ahead and I will work alongside Massimo and everybody at the club to make Leeds United as successful as possible,” he said.
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Mr Radrizzani added: “I am fully aware of the great heritage and traditions of Leeds United and I will endeavour to be a fitting custodian on behalf of the many thousands of Leeds supporters, who are the lifeblood of the club.”

The deal was advised by law firm Walker Morris’s specialist sports team.

The firm’s head of sport, David Hinchliffe, who led a multi-disciplinary team, said: “This acquisition is great news for everyone involved with Leeds United including the club, the players and the fans.

“The club has a strong heritage and a clear aim to return to the Premier League.  Mr Radrizzani has, alongside Massimo Cellino, offered his full support to manager Garry Monk and both owners are committed to making Leeds United as successful as possible.”

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